Internet issues finished lower on Friday despite several high-profile
Internet issues debuting on the public market.
internet.com’s Internet Stock Index was off 23.66, or 2.49 percent, to
928.07, the Nasdaq Composite fell 90.25 to 4395.38 and the Dow Jones
industrial average dropped 218.42 to 10425.21.
Via Net.Works Inc. (VNWI)
jumped 28-13/16, or 137 percent, to 49-13/16. The company, which provides
small and medium-sized businesses with Internet access, sold 14.3 million
shares at $21.
Cisco Systems Inc. (CSCO)
was off 5 to 130-15/16, Doubleclick
was down 7-3/8 to 11-1/8, eBay Inc. (EBAY)
fell 9 to 153-3/8, Exodus Communications
dropped 5-13/16 to 114-9/16, Real Networks
lost 9-3/8 to 177-1/2 and Yahoo! Inc. (YHOO)
plunged 22-5/16 to 342-11/16.
Ariba Inc. (ARBA)
finished up 16-15/16 to 212, Juniper
Networks Inc. (JNPR)
rose 7-3/8 to 215-7/8 and Starmedia
matured 5-1/4 to 52-1/2 on rumors that the Spanish and Portuguese language
network could soon be bought out.
Elsewhere in the sector, FatBrain (FATB)
lost 6-7/8 to 13-7/8. The online retailer of technical information was
downgraded to a “buy” from “strong buy” by Banc of America Securities and US
Bancorp Piper Jaffray.
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